Corticosteroids Global Market is Booming Across the Globe and Witness Huge Growth By Key Players To 2033 | McKesson Corporation, Pfizer Inc., Bayer AG, AstraZeneca PLC, Abbott Laboratories

The corticosteroids market size has grown steadily in recent years. It will grow from $5.47 billion in 2023 to $5.7 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to treatment of inflammatory conditions, autoimmune disorders and immune system suppression, respiratory conditions and asthma management, allergic reactions and dermatological applications, cancer treatment support.

The corticosteroids market size is expected to see strong growth in the next few years. It will grow to $7.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising incidence of chronic diseases, expanding applications in rheumatology, advancements in drug delivery, geriatric population growth, research and development in corticosteroid therapeutics. Major trends in the forecast period include immunomodulatory effects emphasis, biosimilar market growth, combination therapies development, pediatric-specific formulations, regulatory compliance focus.

Market Overview -
Corticosteroids therapy refers to a treatment that is given in a variety of ways to stifle the immune system and reduce inflammation. Asthma is one of the disorders they are used to treat allergy symptoms like hay fever, and urticaria (hives). Corticosteroids, sometimes known as steroids, are a kind of anti-inflammatory medication.

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The Rising Incidence Of Skin Conditions And The Demand For Corticosteroids
The increasing prevalence of Skin related diseases and the rising incidences of rashes, dermatitis, itching, eczema, and psoriasis contributed to the growth of the corticosteroid market. According to the CDC (Center for Disease Control), each year in the US, at least 2 million people are infected with bacteria that are resistant to antibiotics, and at least 23,000 people die due to such infections. For instance, in November 2021, according to an article shared by Cleveland Clinic, a US-based non-profit academic medical center, Skin cancer strikes almost one in five persons at some point in their lives. Every day, 9,500 Americans receive a skin cancer diagnosis. Skin cancer affects 20% of Americans at some point in their lives. The increased prevalence of such disorders increased the demand for corticosteroids, driving the market.

Competitive Landscape -
Major companies operating in the corticosteroids market report are McKesson Corporation, Pfizer Inc., Johnson and Johnson Services Inc., Merck & Co.Inc., Bayer AG, Sumitomo Corporation, Novartis International AG., Sanofi SA, Bristol Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd., Cipla Limited, Dr. Reddy's Laboratories Ltd., Endo International plc, Lupin Limited, Mallinckrodt Pharmaceuticals Ltd., LEO Pharma A/S, Glenmark Pharmaceuticals Ltd., Wockhardt Limited, Indivior plc, Zizhu Pharmaceutical Co. Ltd., Allergan plc, Hikma Pharmaceuticals plc

The Role Of Silicones In Topical And Transdermal Drug Delivery For Corticosteroid Therapy
The development of silicones for topical and transdermal drug delivery is one of the key trends in the corticosteroid therapy market. Silicone gel sheets are soft wound covers composed of cross-linked polymers reinforced with or bonded to mesh or fabric. A new strategy to deliver drugs to the inner ear from dexamethasone (DXM)-loaded silicone implants and to evaluate the distribution of the drug in the cochlea with confocal microscopy and the development of a new device for local corticosteroids delivery into the oval window with an extended drug release of DXM to the inner ear is also seen in recent years. Silicone gel sheeting is also an excellent treatment option for pediatric patients who may not be able to tolerate intralesional corticosteroid injection. Silicone-based pressure-sensitive adhesives for transdermal drug delivery have shown higher diffusivity and greater skin permeation rate. Silicones offer several advantages such as improved drug permeability, and high diffusivity and offer efficient function and performance to modern drug products.

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Key Segments -
The corticosteroids market covered in this report is segmented -
1) By Product: Glucocorticoids, Mineralocorticoids
2) By Application: Skin Allergies, Rhuematology Indications, Endocrinology, Acute Respiratory Diseases, Other Applications
3) By End User: Hospitals, Clinics, Research Institutes, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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